BTC to move sideways(4Hr)! | Decrease in Volume

2020年8月20日

Market in last 24hrs
-BTCUSD saw a slight downward movement bouncing back from $11,569
-Price volatility was high. The market moved ~2.99%, between 11.91k and 11.57k

Today’s Trend analysis
-BTCUSD expected to move sideways as the price had been seeing ups and down
-Price at time of publishing: $11,760
-BTC’s market cap: $217 Billion
-Oscillator indicators are mostly neutral. RSI at 44
-Moving average indicators are mostly neutral. Ichimoku Cloud is neutral
-Volume indicators observed a consistent decrease in the recent candles

Price expected to see a sideways movement as it bounced back and saw a price decrease after that. Most of the Oscillator indicators are neutral. MACD approaching from below the signal line with histogram decreasing in size in the negative direction. RSI at 44, below the midline still in the neutral region. CCI at -67, in the neutral region, with an up move. Another interesting point to notice here is that the volume in the recent candles were decreasing consistently.
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The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 1 D candles.

DM to get details of the above analysis and list of indicator & their values used to arrive at the above conclusion.

Note: Above analysis would hold true if we do not encounter sudden jump in trade volume .

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- Mudrex